IoT security startup Mocana in May announced it has raised $11 million in additional investment from Sway Ventures, Shasta Ventures, Trident Capital Fund and GE Ventures. The company, which makes IoT security solutions for industrial control systems, said that it will use this funding to advance its IoT security platform in the industrial IoT market, as well as accelerate innovation and drive growth. Mocana's platform provides a full-stack toolset for securing connected systems, from the gateway to the cloud.
"Mocana's IoT Security Platform allows IoT devices of every size to defend themselves from cyber attacks by using military-grade cryptographic software installed on a chip, or flash memory embedded within a device," said William Diotte, CEO of Mocana, in a statement. "We couldn't be more excited about the support we've received from investors and the dedication from our team to bring the next generation of security technology to market, at scale."